Aventis Pharma Q2 net jumps 37%

NEW DELHI: Aventis Pharma on Wednesday announced a 37 per cent surge in net profit for its second quarter ended June 30, 2003 at Rs Rs 23.3 crore.

The firm had posted a net profit of Rs 17 crore in the same quarter last year. Enthused by the profit growth, the board of directors of Aventis declared an interim dividend of Rs 3.50 per share.

Its total income (net of excise) also increased over 11 per cent during the period to touch Rs 177.3 crore from Rs 159.4 crore a year earlier.

Commenting on the company's results, managing director Ramesh Subrahmanian said, "Our brand and market leadership strategy continues to deliver stand-out results in a very competitive and sluggish domestic market. The continued focus on tight execution and improved business processes, is generating strong business growth."

Subrahmanian has resigned from the post of managing director and the board has accepted his resignation with effect from August 31, 2003.